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India Wires and Cables Market

India Wires and Cables Market Size, Share, Trends, Forecast: By Voltage: Low Voltage, Medium Voltage, High Voltage; By Product: Power Cables, Building Wires, Flexible Wires and Cables, EHV Cables, Control/Instrumentation Cables, Others; By Material: Copper, Aluminium, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

India Wires and Cables Market Outlook

The India wires and cables market size reached a value of nearly INR 1,083.71 billion in 2023. The market is projected to grow at a CAGR of 14.5% between 2024 and 2032 to reach around INR 3,655.81 billion by 2032.

 

Key Takeaways

  • The demand for wires and cables in India is expected to ramp up with the expansion of renewable power generation, the upgrading of transmission and distribution infrastructure, rising investments in metro railways and smart grid initiatives, and the growing data center sector.
  • Polycab India Limited, KEI Industries Limited, Havells India Limited are a few of the major companies in the market.
  • The anticipated increase in urbanisation and commercialisation is assessed to stimulate investments in the real estate sector, leading to a higher demand for low-voltage insulated wires and cables.

 

A wire is a metallic conductor, mainly made of copper, that is used for conducting electricity whereas a cable is a group of wires that are bonded and twisted together for the transmission of electrical or optical signals.

 

Globally, India is the third-largest producer and consumer of electricity. As of April 30, 2023, India had an installed power capacity of 416.59 GW. There is a growing number of investments in the power, telecommunication, and infrastructure sectors, including metros, railroads, smart grids, and data centres.

 

Some of the investments include Raipur Visakhapatnam Expressway (NH-130CD) with a funding of Rs 20,000 crore, Kala Amb smart grid project with an investment of Rs.19.44 crore, and USD 32.7 billion capital investment into the rail among several others.

 

Some of the factors driving the India cables and wires market growth are ongoing technological advancements and innovations by branded players. India aims to achieve 500 GW of renewable energy by 2030 and the Indian government is significantly investing in metro projects. The Government of India allocated approximately INR 19,518 crores in metro projects during the Union budget 2023-2024.

 

Key Trends and Developments

Government investments in metro projects; increasing adoption of renewable energy; rapid infrastructural development; and expansion of smart devices are favouring the Indian cables and wires market

 

Date Company Details
October 2023 Vedanta Aluminium Introduced cutting-edge wire rod products – namely, T4, AL59, and the 8xxx series – during the Cable & Wire Fair 2023.
May 2023 Polycab India Invested INR 700 crore in a new plant for setting up an extra high voltage (EHV) products facility in Halol, Gujarat.
December 2022 Polycab India Collaborated with Redington Ltd., a prominent supply-chain solutions provider, to enhance the distribution of its passive network products throughout India.
September 2022 Ravicab Cables Pvt. Ltd Completed the acquisition of Leoni Cable Solutions India Pvt. Ltd. (LCSI), a subsidiary of Germany's Leoni AG

 

 

Trends Impact
Government investment in metro projects The Indian government’s massive investment (19,518 crores) in budget FY23-24 is contributing to its expansion in tier-2 cities. Around 674.22 km are under construction, and 192.77 km have already been approved.
Increasing adoption of renewable energy India’s aim is to achieve 500 GW of renewable energy by 2030, which fosters the installation of renewable energy sources such as solar and wind power.
Infrastructure development Under the National Infrastructure Pipeline (NIP), an average of 0.5%-2% of the project expenditure is expected to be spent on wires and cables.
The growth of social media and the proliferation of smart devices The Union Cabinet’s approval of the final phase of the last-mile optical fibre-based broadband connectivity plan for households in 6.4 lakh villages in August 2023, creates the market opportunities.
Increasing demand for branded products Due to increased consumer awareness of safety and quality, influenced in part by the introduction of the GST regime India's wires and cables market is transitioning to branded products.

 

Figure: Funds allocated for Tier-2 City Metro Projects

India Wires and Cables Market

 

India Wires and Cables Market Trends

Large-scale developments in the power, telecom, and housing sectors, driven by urbanisation, commercialisation, and smart city projects, are stimulating the need for wires and cables. The rapid digital transformation, development of data centres and cloud computing further also propels the India wires and cables market growth. The use of fibre optic cables for ethernet applications is expanding as IT infrastructure attains higher levels of availability and security.

 

Furthermore, the Indian Government National Infrastructure Pipeline (NIP) provides a projected infrastructural investment of around INR  111 lakh crore in the Indian infrastructural sector over FY 2020-2025. Under the NIP, an average of 0.5%-2% of the project expenditure is expected to be spent on wires and cables, providing manufacturers with an annual opportunity of around INR 100-450 billion.

 

Market Segmentation

India Wires and Cables Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Voltage Low Voltage, Medium Voltage, High Voltage
Product Power Cables, Building Wires, Flexible Wires And Cables, EHV Cables, Control/Instrumentation Cables, Others
Material Copper, Aluminium, Others
End Use Construction, Telecommunications, Energy and Power, Automotive, Aerospace and Defence, Others
Region North India, South India, East India, West India

 

High voltage is expected to dominate the India wires and cables market share as these are suitable for underground or underwater power transmission

The rising urbanisation in India and the growth of metro cities propel the demand for extra-high-voltage cables (EHV) in India. These cables are especially ideal for underground installations as they omit the risks of power theft and require reduced maintenance. High-voltage cables are ideal for power transmission and distribution. India's National Grid capacity is expanding continuously under the PM Gati Shakti National Master Plan, which is expected to add around 26,988 circuit km capacity by 2024-2025 in line with growing electricity generation and demand.

 

Low voltage wires and cables also occupy a significant share of the market due to their wide applications in the residential, commercial, and industrial sectors of the country. Low voltage wires are extensively implemented in building wiring for power distribution throughout the infrastructure. Moreover, they are utilised in electrical appliances such as lighting, switchboards, fans, and sockets, among others. Low voltage cables are also deployed in LAN networks and telecommunication for the transmission of audio, video, and internet data.

 

The demand for building wires is significantly increasing as they play an essential role in the commercial, residential, and industrial sectors

Building wires hold a significant share of the India wires and cables market. Building wires are extensively deployed in commercial, industrial, and residential establishments. These are essential components of branch circuit wiring in homes and businesses that carry electrical current for powering appliances. Through the Union budget 2023-24, the finance ministry of India allocated over Rs 79,000 crore (USD 9.64 billion) towards the Pradhan Mantri Awas Yojana (PMAY)), representing a 66% increase compared to the previous year. PMAY, launched in 2015, aims to provide affordable housing to all citizens.

 

Copper is expected to dominate the India wires and cables market share in the coming years

By material, copper wires are anticipated to grow significantly due to their high electrical conductivity, ductility, and thermal resistance. Copper wire and cables work as great electrical conductors. Copper wires are commonly deployed in commercial and household electrical wiring. As a result, rising residential construction due to increased disposable income drives the demand for copper wires for powering TVs, computers, and kitchen appliances.

 

Although aluminium wires and cables are not as strong as their copper counterparts, they are lightweight and cost-effective. Such wires have a 1.5 times larger cross-section than copper wires, hence they are used in high-voltage power lines.

 

Competitive Landscape

Major players in the India wires and cables market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge in the market

 

Company Name Year Founded Headquarters Products/Services
Polycab India Limited 1968 India Manufacturer and seller of a varied range of wires and cables for retail and industrial use.
KEI Industries Limited 1968 India Extra high voltage cables, high voltage cables, low voltage cables, ESP cables, control cables, house wire, single-core/multicore flexible cablesetc.
R R Kabel Ltd 1999 India Household, fixed wiring cables, flat cables, bus cables, single-core flexible cables, flexible multicore cables, and battery cables,, etc.
Universal Cable Limited 1962 India Low voltage, medium voltage, and extra high voltage XLPE power cables, as well as PVC and rubber insulated power cables under the brand UNISTAR

 

Other key players in the India wires and cables market include Gloster Cables Limited, Finolex Cables Ltd., V-Guard Industries Ltd., and Havells India Ltd., among others.

 

Global India Wires and Cables Market Analysis by Region

North India is anticipated to hold a dominant position in the India wires and cables market in the forecast period. In March 2023, the International Telecommunications Union (ITU) inaugurated the ITU Area Office and Innovation Centre in Delhi to promote and develop new telecom technologies and expand the benefits of digitalisation to consumers. Additionally, the construction of a new interim terminal building for the upcoming international airport at Halwara, Punjab, further aids the growth of the market.

 

East India holds a growing market share and is driven by rapid installation of smart grids. For instance, in August 2023, the West Bengal State Electricity Distribution Company (WBSEDCL) announced the installation of 200,000 smart meters in selected urban geographies, including Asansol and Kharagpur by 2026-end.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Voltage
  • Product
  • Material
  • End Use
  • Region
Breakup by Voltage
  • Low Voltage
  • Medium Voltage
  • High Voltage
Breakup by Product
  • Power Cables
  • Building Wires
  • Flexible Wires and Cables
  • EHV Cables
  • Control/Instrumentation Cables
  • Others
Breakup by Material
  • Copper
  • Aluminium
  • Others
Breakup by End Use
  • Construction
  • Telecommunications
  • Energy and Power
  • Automotive
  • Aerospace and Defence
  • Others
Breakup by Region
  • North India
  • South India
  • East India
  • West India
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Polycab India Limited 
  • KEI Industries Limited 
  • R R Kabel Ltd. 
  • Universal Cable Limited 
  • Gloster Cables Limited 
  • Finolex Cables Ltd.
  • V-Guard Industries Ltd.
  • Havells India Ltd.
  • Others

 

India Wires and Cables Market Report Snapshots

India Wires and Cables Market Size

India Wires and Cables Market Trends

India Wires and Cables Market Regional Analysis

India Wires and Cables Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    India Power Generation and Consumption Outlook
9    India Wire and Cable Supply Outlook

    9.1    Manufacturing Capacity of Wires and Cables for Some Key Market Players
    9.2    Demand in CKM
    9.3    Import and Export
    9.4    Raw Material Price Overview
10    India Wires and Cables Market Overview
    10.1    Key Industry Highlights
    10.2    India Wires and Cables Historical Market (2018-2023) 
    10.3    India Wires and Cables Market Forecast (2024-2032)
11    India Wires and Cables Market by Voltage
    11.1    Low Voltage
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Medium Voltage
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    High Voltage
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
12    India Wires and Cables Market by Product
    12.1    Power Cables
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Building Wires
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Flexible Wires and Cables
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    EHV Cables
        12.4.1    Historical Trend (2018-2023)
        12.4.2    Forecast Trend (2024-2032)
    12.5    Control/Instrumentation Cables
        12.5.1    Historical Trend (2018-2023)
        12.5.2    Forecast Trend (2024-2032)
    12.6    Others
13    India Wires and Cables Market by Material
    13.1    Copper
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    Aluminium
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Others
14    India Wires and Cables Market by End Use
    14.1    Construction
        14.1.1    Historical Trend (2018-2023)
        14.1.2    Forecast Trend (2024-2032)
        14.1.3    Market by Type
            14.1.3.1    Residential
            14.1.3.2    Commercial
    14.2    Telecommunications
        14.2.1    Historical Trend (2018-2023)
        14.2.2    Forecast Trend (2024-2032)
    14.3    Energy and Power
        14.3.1    Historical Trend (2018-2023)
        14.3.2    Forecast Trend (2024-2032)
    14.4    Automotive
        14.4.1    Historical Trend (2018-2023)
        14.4.2    Forecast Trend (2024-2032)
    14.5    Aerospace and Defence
        14.5.1    Historical Trend (2018-2023)
        14.5.2    Forecast Trend (2024-2032)
    14.6    Others
15    India Wires and Cables Market by Region
    15.1    North India
        15.1.1    Historical Trend (2018-2023) 
        15.1.2    Forecast Trend (2024-2032)
        15.1.3    Market by Leading States
            15.1.3.1    Haryana
            15.1.3.2    Punjab
            15.1.3.3    Uttar Pradesh
            15.1.3.4    Delhi
            15.1.3.5    Others
    15.2    South India
        15.2.1    Historical Trend (2018-2023) 
        15.2.2    Forecast Trend (2024-2032)
        15.2.3    Market by Leading States
            15.2.3.1    Tamil Nadu
            15.2.3.2    Karnataka
            15.2.3.3    Telangana
            15.2.3.4    Andhra Pradesh
            15.2.3.5    Others
    15.3    East India
        15.3.1    Historical Trend (2018-2023) 
        15.3.2    Forecast Trend (2024-2032)
        15.3.3    Market by Leading States
            15.3.3.1    Chhattisgarh
            15.3.3.2    Odisha
            15.3.3.3    Sikkim
            15.3.3.4    West Bengal
            15.3.3.5    Others
    15.4    West India
        15.4.1    Historical Trend (2018-2023) 
        15.4.2    Forecast Trend (2024-2032)
        15.4.3    Market by Leading States
            15.4.3.1    Goa
            15.4.3.2    Gujarat
            15.4.3.3    Maharashtra
            15.4.3.4    Others
16    Market Dynamics
    16.1    SWOT Analysis
        16.1.1    Strengths
        16.1.2    Weaknesses
        16.1.3    Opportunities
        16.1.4    Threats
    16.2    Porter’s Five Forces Analysis
        16.2.1    Supplier’s Power
        16.2.2    Buyer’s Power
        16.2.3    Threat of New Entrants
        16.2.4    Degree of Rivalry
        16.2.5    Threat of Substitutes
    16.3    Key Indicators for Demand
    16.4    Key Indicators for Price
17    Competitive Landscape
    17.1    Market Structure
    17.2    Market Share of Leading Players
    17.3    Company Profiles
        17.3.1    Polycab India Limited
            17.3.1.1    Company Overview
            17.3.1.2    Product Portfolio
            17.3.1.3    Demographic Reach and Achievements
            17.3.1.4    Certifications
        17.3.2    KEI Industries Limited
            17.3.2.1    Company Overview
            17.3.2.2    Product Portfolio
            17.3.2.3    Demographic Reach and Achievements
            17.3.2.4    Certifications
        17.3.3    R R Kabel Ltd.
            17.3.3.1    Company Overview
            17.3.3.2    Product Portfolio
            17.3.3.3    Demographic Reach and Achievements
            17.3.3.4    Certifications
        17.3.4    Universal Cable Limited
            17.3.4.1    Company Overview
            17.3.4.2    Product Portfolio
            17.3.4.3    Demographic Reach and Achievements
            17.3.4.4    Certifications
        17.3.5    Gloster Cables Limited
            17.3.5.1    Company Overview
            17.3.5.2    Product Portfolio
            17.3.5.3    Demographic Reach and Achievements
            17.3.5.4    Certifications
        17.3.6    Finolex Cables Ltd.
            17.3.6.1    Company Overview
            17.3.6.2    Product Portfolio
            17.3.6.3    Demographic Reach and Achievements
            17.3.6.4    Certifications
        17.3.7    V-Guard Industries Ltd
            17.3.7.1    Company Overview
            17.3.7.2    Product Portfolio
            17.3.7.3    Demographic Reach and Achievements
            17.3.7.4    Certifications
        17.3.8    Havells India Ltd.
            17.3.8.1    Company Overview
            17.3.8.2    Product Portfolio
            17.3.8.3    Demographic Reach and Achievements
            17.3.8.4    Certifications
        17.3.9    Others
18    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    India Wires and Cables Market: Key Industry Highlights, 2018 and 2032
2.    India Wires and Cables Historical Market: Breakup by Voltage (INR Billion), 2018-2023
3.    India Wires and Cables Market Forecast: Breakup by Voltage (INR Billion), 2024-2032
4.    India Wires and Cables Historical Market: Breakup by Product (INR Billion), 2018-2023
5.    India Wires and Cables Market Forecast: Breakup by Product (INR Billion), 2024-2032
6.    India Wires and Cables Historical Market: Breakup by Material (INR Billion), 2018-2023
7.    India Wires and Cables Market Forecast: Breakup by Material (INR Billion), 2024-2032
8.    India Wires and Cables Historical Market: Breakup by End Use (INR Billion), 2018-2023
9.    India Wires and Cables Market Forecast: Breakup by End Use (INR Billion), 2024-2032
10.    India Wires and Cables Historical Market: Breakup by Region (INR Billion), 2018-2023
11.    India Wires and Cables Market Forecast: Breakup by Region (INR Billion), 2024-2032
12.    India Wires and Cables Market Structure

Key Questions Answered in the Report

In 2023, the market value was INR 1,083.71 billion.

The market is expected to grow at a CAGR of 14.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach INR 3,655.81 billion by 2032.

The major market drivers include rising government investment in Tier 2 city metro projects, expansion of IT and telecommunication centre, and rapid infrastructure development.

The key trends include increasing adoption of renewable energy, growth of social media and the proliferation of smart devices, rapid digital transformation, and the development of data centres and cloud computing.

The different segments based on voltage of wires and cables include low voltage, medium voltage, and high voltage.

Major end uses of wires and cables include construction, telecommunications, energy and power, automotive, and aerospace and defence, among others.

The major players in the market include Polycab India Limited, KEI Industries Limited, R R Kabel Ltd, Universal Cable Limited, Gloster Cables Limited, Finolex Cables Ltd., V-Guard Industries Ltd., and Havells India Ltd., among others.

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